Senator is co-author of the provision that created the National Clean Investment Fund and Clean Communities Investment Accelerator

Funds for programs have been frozen for past two weeks with no explanation from Citibank or the EPA

Washington (February 28, 2025) – Senator Edward J. Markey (D-Mass.), a member of the Senate Environment and Public Works Committee, today released the following statement after revelations that the Federal Bureau of Investigation (FBI) has been questioning the Environmental Protection Agency (EPA) over the National Clean Investment Fund and Clean Communities Investment Accelerator. These programs, which are part of the Greenhouse Gas Reduction Fund, leverage private capital to cut energy bills for families and small businesses, improve resiliency against climate change-fueled disasters, and create local economic opportunity while combatting climate change. The affected $20 billion in funding was lawfully passed by Congress, based on Senator Markey’s National Climate Bank Act, and awarded to grantees around the country.

Earlier this month, the head of the criminal division at the U.S. Attorney’s office in the District of Columbia, Denise Cheung, was pressured to find evidence of a crime as a justification for freezing the release of the congressionally approved federal funds for the National Clean Investment Fund and the Clean Communities Investment Accelerator. When Cheung declined to pursue an unwarranted criminal investigation due to insufficient evidence, she was forced to resign. Trump Justice Department officials then took additional unprecedented steps to formally freeze this funding—steps which were subsequently rejected by a federal judge and refused by other federal prosecutors. Now, the Trump Justice Department has sent in the FBI.

“The Trump administration is carrying out a literal bank heist right now, and weaponizing the FBI to do so. First freezing funding, then cravenly searching for a non-existent crime, and now utilizing the FBI to target the climate bank is unfounded and is part of a broader effort by the Trump administration to dismantle the programs that keep Americans safe, healthy, and create jobs. A freeze on these investments would be, by far, the U.S. government’s largest confirmed financial seizure.

“This kind of illegal and unethical witch hunt is McCarthyesque and shows the Trump administration to be both un-American and deeply worried about the power of clean energy and climate investments. Grantees are already starting to distribute funding to finance projects that will cut energy bills, improve resiliency, and create local economic opportunity around the country.

“The FBI must immediately stop following the groundless, politicized directives of Trump and Musk and instead return to the important work of protecting the American people, not serving as Trump’s personal corrupt police force. And Citibank must immediately restart the flow of funds to recipients so they can continue to leverage private dollars for projects that will benefit Americans nationwide.”

Following the passage of the Inflation Reduction Act in 2022, Senators Markey and Chris Van Hollen (D-Md.) and Congresswoman Debbie Dingell (MI-06), the House lead on the climate financing legislation, welcomed the launch of the Greenhouse Gas Reduction Fund in April 2023.

Since the start of EPA Administrator Lee Zeldin’s unfounded attacks on the Greenhouse Gas Reduction Fund this month, Senator Markey issued a statement urging Citibank not to give into fearmongering, wrote a letter to the Department of Justice Inspector General about revelations that Assistant U.S. Attorney Denise Cheung was forced to resign after declining to pursue a criminal investigation, and signed onto a letter with the entire Environment and Public Works Committee Democrats demanding answers from the EPA.

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